Ally Bridge Group NY LLC Lowers Holdings in Abivax SA Sponsored ADR $ABVX

Ally Bridge Group NY LLC lowered its stake in shares of Abivax SA Sponsored ADR (NASDAQ:ABVX - Free Report) by 51.8% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 33,712 shares of the company's stock after selling 36,288 shares during the period. Abivax comprises about 3.0% of Ally Bridge Group NY LLC's portfolio, making the stock its 15th largest holding. Ally Bridge Group NY LLC's holdings in Abivax were worth $3,754,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of ABVX. TCG Crossover Management LLC raised its position in Abivax by 17.4% during the third quarter. TCG Crossover Management LLC now owns 7,111,596 shares of the company's stock valued at $603,774,000 after acquiring an additional 1,055,000 shares in the last quarter. UBS Group AG grew its stake in shares of Abivax by 2,561.0% during the 3rd quarter. UBS Group AG now owns 4,461,262 shares of the company's stock worth $378,761,000 after purchasing an additional 4,293,606 shares during the period. Darwin Global Management Ltd. grew its stake in shares of Abivax by 0.4% during the 4th quarter. Darwin Global Management Ltd. now owns 3,178,501 shares of the company's stock worth $439,714,000 after purchasing an additional 14,000 shares during the period. Morgan Stanley increased its holdings in shares of Abivax by 114.3% during the 4th quarter. Morgan Stanley now owns 3,151,994 shares of the company's stock valued at $425,062,000 after purchasing an additional 1,681,277 shares in the last quarter. Finally, Vestal Point Capital LP increased its holdings in shares of Abivax by 90.0% during the 4th quarter. Vestal Point Capital LP now owns 1,900,000 shares of the company's stock valued at $256,224,000 after purchasing an additional 900,000 shares in the last quarter. Institutional investors and hedge funds own 47.91% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. Piper Sandler increased their price target on shares of Abivax from $165.00 to $175.00 and gave the stock an "overweight" rating in a report on Thursday, July 9th. Oddo Bhf reaffirmed an "outperform" rating on shares of Abivax in a report on Thursday, April 9th. Wedbush upped their price objective on shares of Abivax from $90.00 to $110.00 and gave the stock a "neutral" rating in a research report on Tuesday, June 30th. Citigroup reissued an "outperform" rating on shares of Abivax in a research note on Tuesday, June 2nd. Finally, Leerink Partners lifted their price target on Abivax from $140.00 to $148.00 and gave the company an "outperform" rating in a research note on Tuesday, June 30th. Thirteen research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $156.50.

Abivax Trading Down 2.9%

Shares of Abivax stock opened at $124.23 on Wednesday. Abivax SA Sponsored ADR has a twelve month low of $66.11 and a twelve month high of $148.83. The firm has a market capitalization of $10.84 billion, a PE ratio of -23.84 and a beta of 0.87. The firm's 50-day moving average price is $118.49 and its 200 day moving average price is $118.27.

Abivax (NASDAQ:ABVX - Get Free Report) last posted its quarterly earnings data on Friday, May 22nd. The company reported ($0.71) EPS for the quarter, topping the consensus estimate of ($0.94) by $0.23. The firm had revenue of $1.56 million for the quarter, compared to analysts' expectations of $0.40 million. On average, sell-side analysts predict that Abivax SA Sponsored ADR will post -3.22 EPS for the current fiscal year.

Abivax Company Profile

Founded in 2013 and headquartered in Paris, France, Abivax is a clinical-stage biopharmaceutical company focused on discovering and developing novel therapies for chronic inflammatory diseases and viral infections. The company’s technology platform targets host RNA biogenesis to modulate key immune pathways, offering a differentiated approach aimed at disease modification and improved safety profiles.

Abivax’s lead clinical asset, obefazimod (ABX464), is being evaluated in ulcerative colitis and other inflammatory disorders.

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